U.S. Corporate Wellness Market - Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2019-2029

  • Single User License $3500

U.S. Corporate Wellness Market - Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2019-2029

Status : December, 2022 | Medical Devices

Report Digest

U.S. Corporate Wellness Market: Overview

The U.S. corporate wellness market gains from a number of factors and is expected to continue to display a strong growth trajectory over the 2019 – 2029 forecast period. In the modern business world, employee wellbeing has proved to have long term benefits for employers. Employees who feel they are cared are likely to be more committed and work diligently for employers. Around 60% of employees favor that corporate wellness programs motivate them to opt for a healthy lifestyle outside the office as well.

The report studies the U.S. corporate wellness market in terms of service, end-use, category, and delivery model.

The report on the U.S. corporate wellness market delves into demand dynamics, trends, and opportunities for a comprehensive analysis of the said market for the 2019- 2029 forecast period. Furthermore, the report studies key segments, including growth rate of key segments over the forecast period. Lastly, valuable insights into the competitive landscape with a detailed discussion on winning strategies of key players in the U.S. corporate wellness market is a highlight of this report.

U.S. Corporate Wellness Market: Competitive Landscape

The U.S. corporate wellness market marks the presence of some top-notch companies to make it a competitive vendor landscape. Introduction of new wellness programs, bundle-up of wellness programs, and collaborations are some key focus of large players in the U.S. corporate wellness market. Strong marketing campaigns and offering value-added programs are some other strategies savvy players are engaged in for higher share in the U.S. corporate wellness market.

Some prominent players in the U.S. corporate wellness market are ComPsych, VIRGIN PULSE, EXOS, PRIVIA Health, WELLSOURCE Inc., Wellness Corporate Solutions LLC, Provant Health Solutions, MARINO WELLNESS, and VITALITY.

U.S. Corporate Wellness Market: Key Trends

Proven benefits of corporate wellness programs to counter physical and mental disorders is a key factors spurring the U.S. corporate wellness market. According to a study published by the American Journal of Health Promotion, nearly half of the employers in the U.S. offered some kind of health promotion program.

Besides this, the high ROI of corporate wellness services attracts employers to offer these services mostly as a part of employee compensation package. Employers, especially in a large-scale organization, pay a considerable amount of healthcare premium to insurance providers. The increasing number of employees who fall sick often leads to shoot up of premium amount for employers to increase their financial burden. Corporate wellness programs offered in the form of

yoga sessions, meditation sessions, dietary sessions, and other wellness programs helps reduce stress among employees to perform better. Such benefits attract employers to invest in corporate wellness program for overall reduced healthcare costs and increased productivity at work.

Incentives offered by the government to incorporate corporate wellness programs attract employers to adopt these programs. For example, in May 2016, the U.S. Equal Employment Opportunity Commission passed a rule to implement Title II of the Genetic Information Nondiscrimination Act connected with employer wellness programs. Going by this, employers may provide limited financial assistance and other incentives in exchange for employee participation in wellness programs.

Guarantee of safeguard of employee health information shared for wellness programs builds confidence among employees to opt for these programs. The Health Insurance Portability and Accountability Act safeguards employee health information held by employers for such programs.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?